Bank of Baroda’s board approves disinvestment of 49 per cent stake in BFSL
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“The Board of Directors of Bank of Baroda (BoB) approves disinvestment of 49 per cent stake of the Bank in its 100 per cent owned subsidiary i.e. BOB Financial Solutions Limited (BFSL) and suitable investors – strategic partners for acquiring the shareholding of BOB in BFSL. Issue of advertisement inviting expression of interest has been approved.
New Delhi. The board of Bank of Baroda has approved disinvestment of up to 49 per cent in subsidiary company BOB Financial Solutions. The company gave this information in the information given to the regulatory body on Thursday. The notice said, “The Board of Directors of Bank of Baroda (BoB) has approved the disinvestment of 49 percent stake of the Bank in its 100 percent owned subsidiary i.e. BOB Financial Solutions Limited (BFSL) and acquisition of BOB’s shareholding in BFSL.” has approved the issue of advertisement inviting expression of interest from suitable investors-strategic partners.
BOB currently holds 100 per cent of the total equity share capital of BFSL. The details regarding the process of transaction and other relevant details will be published on March 10, 2023, as per the notice.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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